3 Market Performance Metrics
Day-Ahead Prices
Figure 2 shows the daily simple average prices for all hours in IFM for each of the four default load-aggregation points (DLAP): PG&E, SCE, SDG&E, and VEA.
Day-Ahead DLAP prices in April fell compared to the previous month on average, correlated with declining natural gas prices.
TABLE 3 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 2: IFM (Day-Ahead) Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| PGAE | April 2-8 | MOSSLD-LASAGUIL 230kV line |
| PGAE | April 4 | LOSBANOS-GATES1-500kV line |
| PGAE | April 5-6 | MORAGA-MORAGA-115 XFMR |
| PGAE | April 7-8 | GATES2-MIDWAY-500kV line |
Real-Time Price
Figure 3 shows daily simple average prices for all four DLAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in FMM.
FMM DLAP prices in April fell compared to the previous month on average, correlated with declining natural gas prices.
TABLE 4 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 3: FMM Simple Average DLAP Prices (All Hours)
| DLAP LMPs Affected | Dates | Transmission Constraint |
|---|---|---|
| PGAE | April 4 | OMS-13108255_TL50003_NG nomogram |
| PGAE; SDGE | April 5 | OMS-13108255_TL50003_NG nomogram; MIGUEL_BKs_MXFLW_NG |
| PGAE | April 6 | MOSSLD-LASAGUIL-230kV line; TESLA-LOSBANOS-500kV line |
Figure 4 below shows the daily frequency of positive price spikes and negative prices by price range for the DLAPs in the FMM.
The cumulative frequency of prices above $250/MWh increased to 0.52 percent in April from 0.36 percent in the previous month, while the cumulative frequency of negative prices jumped to 13.22 percent in April from 7.53 percent in the previous month, correlated with the increase in renewable curtailment.
Figure 4: Daily Frequency of FMM DLAP Positive Price Spikes and Negative Prices
Figure 5 shows daily simple average prices for all the DLAPs (PG&E, SCE, SDG&E, and VEA) for all hours respectively in RTD.
RTD DLAP prices in April fell compared to the previous month on average, correlated with declining natural gas prices.
TABLE 5 below lists the binding constraints that resulted in relatively high or low DLAP prices on certain dates.
Figure 5: RTD Simple Average DLAP Prices (All Hours)
| DLAP | Dates | Transmission Constraint |
|---|---|---|
| PGAE | April 4 | OMS-13108255_TL50003_NG nomogram |
| PGAE; SDGE | April 5 | OMS-13108255_TL50003_NG nomogram; MIGUEL_BKs_MXFLW_NG |
| PGAE | April 6 | TESLA-LOSBANOS-500kV line |
Figure 6 below shows the daily frequency of positive price spikes and negative prices by price range for the DLAPs in RTD.
The cumulative frequency of prices above $250/MWh dropped to 0.13 percent in April from 0.27 percent in the previous month, while the cumulative frequency of negative prices rose to 17.39 percent in April from 11.39 percent in the previous month, correlated with the increase in renewable generation curtailment.
Figure 6: Daily Frequency of RTD DLAP Positive Price Spikes and Negative Prices
